Fears over future market crash stalk Norway’s $1 trillion oil fund

In 2008, as the global financial system crashed, the investment portfolio of Norway’s oil fund had its worst year ever, yet the sovereign fund managed to increase in size.

Its equities and bond investments dropped 23% that year. But the world’s largest sovereign wealth fund was saved by both a big inflow of money from Norway’s petroleum revenues as oil prices remained high and a large boost from the exchange rate as the krone weakened.